Elme Communities (NYSE:ELME - Get Free Report) announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01, Zacks reports. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The firm had revenue of $61.49 million for the quarter, compared to the consensus estimate of $61.31 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Elme Communities updated its FY 2025 guidance to 0.910-0.970 EPS.
Elme Communities Price Performance
Shares of Elme Communities stock traded down $0.08 during mid-day trading on Thursday, reaching $15.78. 26,176 shares of the stock traded hands, compared to its average volume of 577,632. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $16.27 and a 200 day moving average of $16.11. The stock has a market capitalization of $1.39 billion, a PE ratio of -112.71 and a beta of 0.96. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49.
Elme Communities Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio is presently -480.00%.
Analysts Set New Price Targets
ELME has been the topic of several recent analyst reports. Truist Financial raised shares of Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th.
Read Our Latest Report on ELME
About Elme Communities
(
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Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.
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